Gloster Limited signs MoU with Telangana Government for investment of Rs. 330 crores

Gloster Limited has signed Memorandum of Understanding with the Government of Telangana to set up an integrated jute mill in Warangal District of Telangana at a proposed investment of approximately Rs.330 Crores.

Under the arrangement, Government of Telangana shall ensure seamless execution and hassle free transparent system for quick approvals and clearances under the TS-iPASS framework, facilitate Jute cultivation in the state, provide necessary assistance for adequate infrastructure development and offer competitive incentives.

Shares of Gloster Ltd was last trading in BSE at Rs. 1198.95 as compared to the previous close of Rs. 1171.35. The total number of shares traded during the day was 4080 in over 391 trades.

The stock hit an intraday high of Rs. 1249.9 and intraday low of 1167. The net turnover during the day was Rs. 4943856.

Source : Equity Bulls

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